If any ‘qualifying investments’ (
IHTM34131) were exchanged during the 12
months following the death, question 3(a) on page 4 of the form IHT
35 should be ticked ‘Yes’. Additional information about
the exchanges should also be included with the IHT 35.
You should check the details of the exchange in Extel. If
substitute shares only were received they will check that these
have been correctly included in the sales columns. If shares plus a
cash sum were received they will check that the cash is also
included in the gross proceeds of sale.
You can get more information about the treatment of exchanges
at (
IHTM34154).
